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Abstract

This study aims to analyze the moderating effect of leverage on earnings per share, company size, liquidity, and activity on the financial performance of manufacturing companies in 2019-2024. This study uses a quantitative method with the help of the statistical program EViews 13.0. Data were collected using secondary data from the financial reports of manufacturing companies from to 2019-2024. The data analysis technique used a regression model, namely, the Panel Data Regression Moderating Variables approach. The results of this study indicate that earnings per share has a positive effect on company financial performance, company size has a positive effect on company financial performance, liquidity has no effect on company financial performance, and activity has no effect on company financial performance. The moderating impact of leverage has a significant negative effect on earnings per share on company financial performance, leverage moderation has a significant negative effect on company size on company financial performance, leverage moderation has no effect on liquidity on company financial performance, and leverage moderation has a significant positive effect on company activity on company financial performance.

Keywords

Leverage Earning per Share Firm Size Liquidity Firm Performance

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Fikri, A., & Gusni, G. (2026). The Moderating Role of Leverage on Earnings Per Share, Company Size, Liquidity, and Activity on the Financial Performance of Manufacturing Companies in 2019-2024. Golden Ratio of Auditing Research, 7(1), 98–107. https://doi.org/10.52970/grar.v7i1.2597
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